South Dakota § 9-25-13 Maximum amount borrowed on promissory note.

South Dakota Statutes

§ 9-25-13 — Maximum amount borrowed on promissory note.

South Dakota § 9-25-13

Title 9MUNICIPAL GOVERNMENT

Ch. 9-25MUNICIPAL BONDS AND NOTES

This text of South Dakota § 9-25-13 (Maximum amount borrowed on promissory note.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 9-25-13 (2026).

Text

The money borrowed pursuant to § 9-25-12 may not exceed the sum of ninety - five percent of the amount of anticipated special assessment bond proceeds or may not exceed the sum of ninety - five percent of the amount of uncollected taxes levied by the municipality for the current fiscal year plus other receivables of the fund, including state or federal grant moneys, which have been earned by the municipality or committed by the state or federal governments but not collected at the date of borrowing.

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The money borrowed pursuant to § 9-25-12 may not exceed the sum of ninety - five percent of the amount of anticipated special assessment bond proceeds or may not exceed the sum of ninety - five percent of the amount of uncollected taxes levied by the municipality for the current fiscal year plus other receivables of the fund, including state or federal grant moneys, which have been earned by the municipality or committed by the state or federal governments but not collected at the date of borrowing.